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RELIANCE, INC.（RS）与联合太平洋（UNP）财务数据对比。点击上方公司名可切换其他公司
联合太平洋的季度营收约是RELIANCE, INC.的1.8倍（$6.2B vs $3.5B），联合太平洋净利率更高（27.4% vs 3.3%，领先24.0%），RELIANCE, INC.同比增速更快（11.9% vs 3.2%），联合太平洋自由现金流更多（$631.0M vs $202.9M），过去两年联合太平洋的营收复合增速更高（1.7% vs -2.0%）
Reliance, Inc.总部位于美国亚利桑那州斯科茨代尔，是北美规模最大的金属服务中心运营商。公司为12.5万家制造商、加工厂等客户提供金属加工服务，经销铝、黄铜、合金、铜、碳钢、不锈钢、钛等约10万种金属及特种金属产品。
联合太平洋是美国一级货运铁路运营商，共运营8300台机车，线路总长超5.18万公里，覆盖芝加哥、新奥尔良以西的23个美国州，是全美规模仅次于BNSF的第二大铁路企业。
RS vs UNP — 直观对比
营收规模更大
UNP
是对方的1.8倍
$3.5B
营收增速更快
RS
高出8.7%
3.2%
净利率更高
UNP
高出24.0%
3.3%
自由现金流更多
UNP
多$428.1M
$202.9M
两年增速更快
UNP
近两年复合增速
-2.0%
损益表 — Q4 FY2025 vs Q1 FY2026
| 指标 | | |
|---|---|---|
| 营收 | $3.5B | $6.2B |
| 净利润 | $116.9M | $1.7B |
| 毛利率 | — | — |
| 营业利润率 | 4.8% | 39.5% |
| 净利率 | 3.3% | 27.4% |
| 营收同比 | 11.9% | 3.2% |
| 净利润同比 | 10.3% | 4.6% |
| 每股收益（稀释后） | $2.23 | $2.87 |
绿色 = 该指标领先。财年不对齐时期间可能不同
8季度营收与利润趋势
并排季度历史对比，按日历期对齐，财年错位的公司也能正确匹配
营收RSUNP
| Q1 26 | — | $6.2B | ||
| Q4 25 | $3.5B | $6.1B | ||
| Q3 25 | $3.7B | $6.2B | ||
| Q2 25 | $3.7B | $6.2B | ||
| Q1 25 | $3.5B | $6.0B | ||
| Q4 24 | $3.1B | $6.1B | ||
| Q3 24 | $3.4B | $6.1B | ||
| Q2 24 | $3.6B | $6.0B |
净利润RSUNP
| Q1 26 | — | $1.7B | ||
| Q4 25 | $116.9M | $1.8B | ||
| Q3 25 | $189.5M | $1.8B | ||
| Q2 25 | $234.2M | $1.9B | ||
| Q1 25 | $200.5M | $1.6B | ||
| Q4 24 | $106.0M | $1.8B | ||
| Q3 24 | $199.2M | $1.7B | ||
| Q2 24 | $268.3M | $1.7B |
营业利润率RSUNP
| Q1 26 | — | 39.5% | ||
| Q4 25 | 4.8% | 39.5% | ||
| Q3 25 | 7.1% | 40.8% | ||
| Q2 25 | 8.5% | 41.0% | ||
| Q1 25 | 7.9% | 39.3% | ||
| Q4 24 | 4.5% | 41.3% | ||
| Q3 24 | 8.0% | 39.7% | ||
| Q2 24 | 9.7% | 40.0% |
净利率RSUNP
| Q1 26 | — | 27.4% | ||
| Q4 25 | 3.3% | 30.4% | ||
| Q3 25 | 5.2% | 28.6% | ||
| Q2 25 | 6.4% | 30.5% | ||
| Q1 25 | 5.8% | 27.0% | ||
| Q4 24 | 3.4% | 28.8% | ||
| Q3 24 | 5.8% | 27.4% | ||
| Q2 24 | 7.4% | 27.9% |
每股收益（稀释后）RSUNP
| Q1 26 | — | $2.87 | ||
| Q4 25 | $2.23 | $3.12 | ||
| Q3 25 | $3.59 | $3.01 | ||
| Q2 25 | $4.42 | $3.15 | ||
| Q1 25 | $3.74 | $2.70 | ||
| Q4 24 | $2.05 | $2.91 | ||
| Q3 24 | $3.61 | $2.75 | ||
| Q2 24 | $4.67 | $2.74 |
资产负债表与财务实力
最新季度各公司的流动性、杠杆与账面价值一览
| 指标 | | |
|---|---|---|
| 现金及短期投资手头流动性 | $216.6M | $735.0M |
| 总债务越低越好 | — | — |
| 股东权益账面价值 | $7.2B | — |
| 总资产 | $10.4B | $69.6B |
| 负债/权益比越低杠杆越低 | — | — |
8季度趋势，按日历期对齐
现金及短期投资RSUNP
| Q1 26 | — | $735.0M | ||
| Q4 25 | $216.6M | $1.3B | ||
| Q3 25 | $261.2M | $808.0M | ||
| Q2 25 | $239.5M | $1.1B | ||
| Q1 25 | $277.8M | $1.4B | ||
| Q4 24 | $318.1M | $1.0B | ||
| Q3 24 | $314.6M | $947.0M | ||
| Q2 24 | $350.8M | $1.1B |
总债务RSUNP
| Q1 26 | — | — | ||
| Q4 25 | — | $30.3B | ||
| Q3 25 | — | $30.3B | ||
| Q2 25 | — | $30.3B | ||
| Q1 25 | — | $30.6B | ||
| Q4 24 | — | $29.8B | ||
| Q3 24 | — | $29.8B | ||
| Q2 24 | — | $31.2B |
股东权益RSUNP
| Q1 26 | — | — | ||
| Q4 25 | $7.2B | $18.5B | ||
| Q3 25 | $7.3B | $17.3B | ||
| Q2 25 | $7.2B | $16.3B | ||
| Q1 25 | $7.1B | $16.0B | ||
| Q4 24 | $7.2B | $16.9B | ||
| Q3 24 | $7.4B | $16.6B | ||
| Q2 24 | $7.6B | $16.5B |
总资产RSUNP
| Q1 26 | — | $69.6B | ||
| Q4 25 | $10.4B | $69.7B | ||
| Q3 25 | $10.5B | $68.6B | ||
| Q2 25 | $10.5B | $68.6B | ||
| Q1 25 | $10.4B | $68.5B | ||
| Q4 24 | $10.0B | $67.7B | ||
| Q3 24 | $10.3B | $67.6B | ||
| Q2 24 | $10.4B | $67.8B |
负债/权益比RSUNP
| Q1 26 | — | — | ||
| Q4 25 | — | 1.64× | ||
| Q3 25 | — | 1.75× | ||
| Q2 25 | — | 1.86× | ||
| Q1 25 | — | 1.91× | ||
| Q4 24 | — | 1.76× | ||
| Q3 24 | — | 1.79× | ||
| Q2 24 | — | 1.89× |
现金流与资本效率
扣除再投资后实际产生的现金。现金流比净利润更难造假
| 指标 | | |
|---|---|---|
| 经营现金流最新季度 | $276.1M | — |
| 自由现金流经营现金流 - 资本支出 | $202.9M | $631.0M |
| 自由现金流率自由现金流/营收 | 5.8% | 10.1% |
| 资本支出强度资本支出/营收 | 2.1% | — |
| 现金转化率经营现金流/净利润 | 2.36× | — |
| 过去12个月自由现金流最近4个季度 | $502.5M | $4.8B |
8季度趋势，按日历期对齐
经营现金流RSUNP
| Q1 26 | — | — | ||
| Q4 25 | $276.1M | $2.2B | ||
| Q3 25 | $261.8M | $2.5B | ||
| Q2 25 | $229.0M | $2.3B | ||
| Q1 25 | $64.5M | $2.2B | ||
| Q4 24 | $473.3M | $2.7B | ||
| Q3 24 | $463.9M | $2.7B | ||
| Q2 24 | $366.3M | $1.9B |
自由现金流RSUNP
| Q1 26 | — | $631.0M | ||
| Q4 25 | $202.9M | $1.2B | ||
| Q3 25 | $180.6M | $1.6B | ||
| Q2 25 | $141.4M | $1.4B | ||
| Q1 25 | $-22.4M | $1.3B | ||
| Q4 24 | $362.4M | $1.7B | ||
| Q3 24 | $351.1M | $1.8B | ||
| Q2 24 | $268.1M | $1.0B |
自由现金流率RSUNP
| Q1 26 | — | 10.1% | ||
| Q4 25 | 5.8% | 20.1% | ||
| Q3 25 | 4.9% | 25.2% | ||
| Q2 25 | 3.9% | 22.7% | ||
| Q1 25 | -0.6% | 21.6% | ||
| Q4 24 | 11.6% | 28.4% | ||
| Q3 24 | 10.3% | 29.9% | ||
| Q2 24 | 7.4% | 16.8% |
资本支出强度RSUNP
| Q1 26 | — | — | ||
| Q4 25 | 2.1% | 16.4% | ||
| Q3 25 | 2.2% | 15.2% | ||
| Q2 25 | 2.4% | 15.2% | ||
| Q1 25 | 2.5% | 15.0% | ||
| Q4 24 | 3.5% | 15.1% | ||
| Q3 24 | 3.3% | 13.6% | ||
| Q2 24 | 2.7% | 15.0% |
现金转化率RSUNP
| Q1 26 | — | — | ||
| Q4 25 | 2.36× | 1.20× | ||
| Q3 25 | 1.38× | 1.41× | ||
| Q2 25 | 0.98× | 1.24× | ||
| Q1 25 | 0.32× | 1.36× | ||
| Q4 24 | 4.47× | 1.51× | ||
| Q3 24 | 2.33× | 1.59× | ||
| Q2 24 | 1.37× | 1.14× |
财务流量对比
营收 → 毛利润 → 营业利润 → 净利润流向图
业务分部营收拆解
RS
| Carbon Steel | $1.9B | 55% |
| Aluminum | $624.5M | 18% |
| Stainless Steel | $467.1M | 13% |
| Alloy Steel | $155.5M | 4% |
| Toll Processing | $155.3M | 4% |
| Copper And Brass | $93.5M | 3% |
| Other Products Or Services | $80.4M | 2% |
UNP
| Freight revenues | $5.9B | 95% |
| Other revenues | $324.0M | 5% |
